Letter Agreement dated November 2, 2021 by and between Novo Healthnet Limited and Michael Gaynor Physiotherapy Professional Corporation
Exhibit 10.38
Michael Gaynor Physiotherapy Professional Corporation
49 Balmoral Street
Kemptville, Ontario Canada K0G 1J0
November 2, 2021
Robert Mattacchione, Chairman
Novo Healthnet Limited
3905 Major Mackenzie Drive, Suite 115
Woodbridge, Ontario L4H 4R2
| SUBJ: | CAD$387,992.14 Series ‘“A” Debenture, dated September 30, 2013, Extension of Term Due Date to December 1, 2023 |
Dear Mr. Mattacchione,
We want to thank you for your communication of September 28, 2021 in which your company, Novo Healthnet Limited, requested an extension of final payment with respects to the Series “A” Debenture, dated September 30, 2013 (the “Debenture”), with an original principal amount of CAD$387,992.14 and an original term due date of September 30, 2016.
On December 2, 2017, the parties agreed to extend the term due date, for payment of the Debentures’ principal and interest owed, to September 30, 2019. On January 31, 2018, the parties agreed to convert 75% of the Debenture amount owed, both principal and interest, into shares of common stock (par value $0.001) of Novo Healthnet Limited’s parent company, Novo Integrated Sciences, Inc., a Nevada corporation, in lieu of accepting a cash payment for 75% of the amount owed, both principal and interest. On September 27, 2019, the parties agreed to extend the term due date, for payment of the Debentures’ principal and interest owed, to September 30, 2021.
Effective November 2, 2021, Michael Gaynor Physiotherapy Professional Corporation agrees to extend the term due date for payment of the Debentures’ principal and interest owed, to December 1, 2023, with no penalties incurred and with all terms and conditions, as defined in the Debenture, remaining in full force and effect.
| APPROVED | ||
| Debenture Holder | Debenture Issuer | |
| Michael Gaynor Physiotherapy | Novo Healthnet Limited | |
| Professional Corporation | ||
| /s/ Michael Gaynor | /s/ Robert Mattacchione | |
| Michael Gaynor | Robert Mattacchione | |
Authorized Signing Officer | Authorized Signing Officer |
